FHA loan limits control the maximum amount you may borrow on an FHA loan. The limits vary by county within each state. Knowing the limits for your area can help you determine the purchase power you have with an FHA loan. What are the FHA Loan Limits? The FHA loan limits change on a yearly basis. For 2017, the highest FHA loan anyone could obtain is $636,150. This is the maximum in high cost areas. It does not mean that any FHA borrower can take a loan out for this amount. The FHA also has a … [Read more...]
What Is the Maximum Loan Amount for an FHA Streamline Refinance?
At least with cash-out refinances, you know how much you can get based on the amount you plan to take out of your equity plus your outstanding loan balance. With streamline refinances, the maximum loan amount you can refinance for is subject to a number of factors, which we shall discuss below. Let’s help you find a mortgage lender to refinance.» Streamline Refinance Mortgage Limits To recall, the streamline refinance program administered by the FHA and coursed through lenders (i) aims at … [Read more...]
FHA Streamline Program: Can You Streamline If Your Loan Is Above Current FHA Loan Limits?
Many people who are curently in an FHA loan may not be able to streamline becuase their loan is above current FHA loan limits. In 2009, FHA reduced the loan limits in certain areas across the country and as a result, many homeowners who have FHA loans that are above the 2009 FHA loan limit are not able to participate in the FHA Streamline program. To Get Matched With a Lender, Click Here» Will this problem get fixed? We think so. When changes happen to the FHA streamline program, FHA … [Read more...]